U.S. drug prices to rise in 2020 as companies prepare to charge more for Ibrance, Xeljanz, 200 others

Expect to pay more for some prescription drugs in 2020 as pharmaceutical companies such as Pfizer, GlaxoSmithKline PLC and Sanofi SA will institute a price hike on over 200 drugs beginning Wednesday, according to 3 Axis Advisors, a healthcare data analysis firm.

The breast cancer medication Ibrance and arthritis medication Xeljanz, both manufactured by Pfizer, are expected to be around five percent more expensive. GlaxoSmithKline is expected to raise prices on approximately 30 of its products, including the COPD and asthma medication, Ellipta, and the cancer drug, Zejula. Pharmaceutical manufacturer Sanofi is expected to increase the price of 10 of its drugs.

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